Hollencrest Capital Management Raises Stock Position in International Business Machines Co. (NYSE:IBM)

Hollencrest Capital Management grew its holdings in International Business Machines Co. (NYSE:IBM) by 35.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 938 shares of the technology company’s stock after purchasing an additional 244 shares during the quarter. Hollencrest Capital Management’s holdings in International Business Machines were worth $162,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of International Business Machines by 6.7% during the first quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in International Business Machines by 151.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after acquiring an additional 2,118,165 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of International Business Machines by 79.4% in the 1st quarter. National Bank of Canada FI now owns 922,496 shares of the technology company’s stock valued at $176,160,000 after purchasing an additional 408,230 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in shares of International Business Machines by 37.2% during the first quarter. Capital Wealth Planning LLC now owns 1,450,768 shares of the technology company’s stock worth $277,039,000 after purchasing an additional 393,680 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Trading Up 1.7 %

Shares of International Business Machines stock opened at $217.63 on Friday. The company’s fifty day moving average is $196.52 and its two-hundred day moving average is $184.38. International Business Machines Co. has a 1 year low of $135.87 and a 1 year high of $218.84. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market capitalization of $199.92 billion, a P/E ratio of 24.65, a PEG ratio of 4.67 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $2.18 earnings per share. Analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Analysts Set New Price Targets

A number of research firms have weighed in on IBM. Stifel Nicolaus raised their price target on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BMO Capital Markets raised their target price on International Business Machines from $190.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. StockNews.com raised International Business Machines from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Royal Bank of Canada increased their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Evercore ISI upped their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus price target of $188.60.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.